While our assets were held harmless, our employees and our company’s reputation were not. For me, the hardest part was watching the retirement plans and dreams of so many of my coworkers disintegrate. Meanwhile, despite our long history and solid performance in Oregon, public distrust of Enron began to spill over onto PGE.

We decided that rather than fight our parent company’s battles, we would maintain our focus on operational excellence and outstanding customer service. We continued to invest in our electricity generation and distribution systems. During one of the toughest winter storm seasons on record, PGE employees worked around the clock to keep power flowing to homes and businesses. Through the darkest days of Enron ownership, they continued to break records for volunteerism and charitable giving.

The focus on our mission paid off. Our customers gave us high marks not only for reliability and service, but also for our commitment to the community. Political, community and business leaders celebrated in downtown Portland alongside PGE employees the day our first round of stock was issued.

Lessons Learned
The PGE officer team and I have reflected often on our experience with Enron. While we learned many lessons, four rise to the top:

• Identify your core strengths and continue to build on them. We never lost sight of our mission as a local service provider that plays a significant role in the well-being of our community.

• Remain true to your values. We continue to follow the guiding behaviors PGE adopted well before we merged with Enron. They include being accountable, making the right things happen, working as a team, keeping a positive attitude, earning trust and dignifying people.

• It’s all about the people. Whether dealing with coworkers or customers, trust and respect are critical. We trust our employees to do a great job every day; in return, we provide them with challenging opportunities, a culture of respect and help with financial planning, employee wellness and work-life balance. For customers, we work to earn their trust by listening to their needs and seeking solutions that work for their homes and businesses.

• Don’t trade long-term success for short-term gains. Be mindful of the kinds of incentives you provide. Enron created financial incentives for their employees that were based on achieving short-term goals. At PGE, we provide team-based incentives, focused on long-term objectives.